AbCellera Biologics (ABCL) Q1 2026 earnings summary

Executive summary

• Entered 2026 with strong financial position, advancing ABCL635 to Phase 2 for non-hormonal VMS, with topline Phase 2 data expected Q3 2026 and positive interim Phase 1 data supporting advancement.

• Key priorities include clinical data readouts for ABCL635 and ABCL575, advancing ABCL688 and ABCL386, and nominating at least one new development candidate in 2026.

• Broader pipeline progress with ABCL575 Phase 1 readout expected Q4 2026 and multiple IND submissions anticipated in 2027.

• Focus on internal antibody drug programs and strategic partnerships, with significant R&D and manufacturing investments.

• ABCL635 targets a significant unmet need in women’s health, addressing a $6B+ U.S. market for non-hormonal VMS therapies.

Financial highlights

• Q1 2026 revenue was $8.3M, up from $4.2M in Q1 2025, driven by research fees, licensing, and milestones.

• Net loss for Q1 2026 was $43.2M ($0.14 per share), compared to $45.6M ($0.15 per share) a year earlier.

• R&D expenses increased to $46.7M, while SG&A expenses decreased to $12.3M year-over-year.

• Ended Q1 2026 with $655M in total available liquidity, including $531M in cash, equivalents, and marketable securities, and $124–$125M in government funding.

• Shareholders’ equity stood at $938.1M at quarter-end.

Outlook and guidance

• Topline Phase 2 data for ABCL635 expected in Q3 2026; Phase 1 readout for ABCL575 in Q4 2026.

• Multiple IND submissions and new development candidate nominations anticipated in 2027.

• Sufficient liquidity to fund at least the next three years of pipeline investments and operational execution.